Sign up | Log in



Home  >>   Daily News  >>   Philippines  News  >>   Finance  >>   Philippines approves ADB loan for financial sector
NEWS UPDATES Asean Affairs        22  April 2011

Philippines approves ADB loan for financial sector

Related Stories

March 31, 2011
“Friendly” Philippine banks targeted

March  21, 2011
Increase in Philippines interest rate seen

March  3, 2011
Philippines central bank hints interest rate hike

February  23, 2011
Philippines launches bond offering

The Bangko Sentral ng Pilipinas (BSP), Philippines central bank, has approved a US$200-million loan from the Asian Development Bank (ADB) to increase the contribution of the financial sector to economic growth and development.

BSP Governor Amando M. Tetangco Jr. told reporters that the central bank’s Monetary Board has given its final approval to ADB’s $200 million Financial Market Regulatory Intermediation Program (FMRIP) Sub-Program 2 loan.

“This is intended to support the continuation of financial policy reforms taking into consideration the lessons learned from the global financial crisis,” Tetangco stressed. He pointed out that the primary objectives of the loan are to enhance financial sector stability, strengthen financial sector regulatory oversight, and improve financial sector efficiency and liquidity.

He said the loan also involves a technical component amounting to $80,000 to support the policy actions of the Securities and Exchange Commission (SEC) as well as the Insurance Commission (IC). According to him, the original amount of the loan was $300 million but was lowered to $200 million based on the availability of ordinary capital resources allocation from the ADB.

The loan carries an interest of six-month US dollar LIBOR plus 30 basis points and a commitment fee of 0.15 percent per annum. It has a maturity period of 15 years inclusive of a three-year grace period.

ADB’s FMRIP is a policy-based program loan that supports the government’s efforts to improve access to finance and to increase the contribution of the financial sector to economic growth.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    22  April 2011 Subsribe Now !
  • Indo bomb targeted church Subcribe: Asean Affairs Global Magazine
• No rate increase in Malaysia Asean Affairs Premium
• More bonds mean more Malaysian growth
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Philippines approves ADB loan for financial sector
• Short-term disaster effect on Philippines electronics

• Thai auto firms want excise tax delay

• Thai banks post first quarter gains

• Dollar rises above black market rate p

Asean Analysis    22  April 2011

Advertise Your Brand
• Security issues flare up in Asean Sponsor Our Events

Asean Stock Watch    21  April 2011

• Asean Markets will head to record highs p

Global News Impacting Asia    17 November 2010


• Bank of America sees Asian inflation


• Lloyd’s increases insurance push in Malaysia


• Wells Fargo analyst on euro


• Obama’s visit to Asia


ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2021 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand